CityofAventura

StatementofNetPosition September30,2021

Governmental BusinessͲType

Activities Activities Total

Assets:

Cash,cashequivalentsandinvestments $ 64,874,381 $ 445,283 $ 65,319,664 Receivables,netofallowanceforuncollectibles 1,796,193 Ͳ 1,796,193 Duefromothergovernments 1,623,097 227,659 1,850,756 Prepaidsandotherassets 768,184 Ͳ 768,184

Inventories 23,144 Ͳ 23,144

Capitalassets:

Nondepreciable 26,034,213 359,794 26,394,007

Depreciable,netofaccumulateddepreciation 74,054,368 9,351,205 83,405,573

Totalassets 169,173,580 10,383,941 179,557,521

Deferredoutflowsofresources:

Deferredoutflowsrelatingtopensions 4,948,696 Ͳ 4,948,696 Deferredoutflowsrelatingtootherpost

employmentbenefits(OPEB) 1,530,498 Ͳ 1,530,498 Deferredchargeonrefunding 255,098 Ͳ 255,098

Totaldeferredoutflowsofresources 6,734,292 Ͳ 6,734,292

Liabilities:

Accountspayable 2,179,836 49,081 2,228,917

Accruedliabilities 4,316,741 Ͳ 4,316,741

Duetoothergovernments 23,376 Ͳ 23,376

Unearnedrevenues 9,995,354 Ͳ 9,995,354

Accruedinterestpayable 56,730 Ͳ 56,730

Internalbalances 127,051 Ͳ 127,051

Duewithinoneyear:

Compensatedabsencespayable 1,436,972 Ͳ 1,436,972

Bondspayable 1,845,000 Ͳ 1,845,000

Dueinmorethanoneyear:

Compensatedabsencespayable 2,668,662 Ͳ 2,668,662

Bondspayable 16,880,000 Ͳ 16,880,000

Netpensionliability 8,894,988 Ͳ 8,894,988

Otherpostemploymentbenefits(OPEB)liability 2,137,378 Ͳ 2,137,378

Totalliabilities 50,562,088 49,081 50,611,169

Deferredinflowsofresources:

Deferredinflowsrelatingtopensions 1,988,336 Ͳ 1,988,336 Deferredinflowsrelatingtootherpost

employmentbenefits(OPEB) 651,157 Ͳ 651,157 Totaldeferredinflowsofresources 2,639,493 Ͳ 2,639,493 Netposition:

Netinvestmentincapitalassets 81,618,679 9,710,999 91,329,678 Restrictedfor:

Publicworks/transportation 6,065,586 Ͳ 6,065,586

Publicsafety/lawenforcement 855,758 Ͳ 855,758

Capitalprojects 792,900 Ͳ 792,900

Debtservice 297,898 Ͳ 297,898

Unrestricted 33,075,470 623,861 33,699,331

Totalnetposition $ 122,706,291 $ 10,334,860 $ 133,041,151

Theaccompanyingnotestothefinancialstatementsareanintegralpartofthesestatements.  15

CityofAventura,Florida StatementofActivities FortheYearEndedSeptember30,2021 OperatingCapital ChargesforGrantsandGrantsandGovernmentalBusinesType Functions/Programs:ExpensesServicesContributionsContributionsActivitiesActivitiesTotal PrimaryGovernment: Governmentalactivities: Generalgovernment$6,530,759$Ͳ$379,014$Ͳ$(6,151,745)$Ͳ$(6,151,745) Publicsafety26,134,9347,257,567178,020Ͳ(18,699,347)Ͳ(18,699,347) Communityservices21,581,5511,187,00512,551,4421,623,343(6,219,761)Ͳ(6,219,761) Publicworks5,490,91650,45112,676Ͳ(5,427,789)Ͳ(5,427,789) Interestandfiscalcharges705,175ͲͲͲ(705,175)Ͳ(705,175) Totalgovernmentalactivities60,443,3358,495,02313,121,1521,623,343(37,203,817)Ͳ(37,203,817) BusinessͲtypeactivities: Stormwaterutility1,071,3241,376,473ͲͲͲ305,149305,149 Totalprimarygovernment$61,514,659$9,871,496$13,121,152$1,623,343(37,203,817)305,149(36,898,668) Generalrevenue: Advaloremtaxes17,346,855Ͳ17,346,855 Utilityserviceandotherlocallyleviedtaxes9,604,135Ͳ9,604,135 Franchisefees4,381,329Ͳ4,381,329 Intergovernmental,unrestricted6,364,811Ͳ6,364,811 Investmentincome75,74970976,458 Miscellaneous299,850(83,813)216,037 Totalgeneralrevenues38,072,729(83,104)37,989,625 Changeinnetposition868,912222,0451,090,957 Netposition,beginning,asrestated121,837,37910,112,815131,950,194 Netposition,ending$122,706,291$10,334,860$133,041,151 *CharterSchoolsarepresentedfortheyearendedJune30,2021.

ChangeinNetPositionNetRevenue(Expense)and ProgramRevenues 

CityofAventura,Florida

BalanceSheetͲGovernmentalFunds September30,2021

Aventura Transportation Aventura

Cityof DonSoffer and CharterHigh

Excellence Aventura Street School Nonmajor Total

General School HighSchool Maintenance Construction Governmental Governmental

Fund Fund* Fund* Fund Fund Funds Funds

Assets:

Cashandcashequivalents

andinvestments $ 54,924,559 $ 1,487,177 $ 91,739 $ 6,019,004 $ 18,523 $ 2,333,379 $ 64,874,381 Accountsreceivable,net 1,796,140 Ͳ 53 Ͳ Ͳ Ͳ 1,796,193 Duefromotherfunds 2,149,450 Ͳ Ͳ Ͳ Ͳ Ͳ 2,149,450 Duefromothergovernments 752,589 647,609 Ͳ 180,207 Ͳ 42,692 1,623,097 Inventories 23,144 Ͳ Ͳ Ͳ Ͳ Ͳ 23,144 Prepaiditemsandotherassets 673,728 9,466 13,553 Ͳ Ͳ Ͳ 696,747 Totalassets $ 60,319,610 $ 2,144,252 $ 105,345 $ 6,199,211 $ 18,523 $ 2,376,071 $ 71,163,012 Liabilities:

Accountspayable $ 1,369,784 $ 640,481 $ 28,027 $ 133,625 $ Ͳ $ 7,919 $ 2,179,836 Accruedliabilities 3,351,612 540,681 279,225 Ͳ Ͳ 145,223 4,316,741 Duetootherfunds Ͳ Ͳ 1,776,501 Ͳ 500,000 Ͳ 2,276,501 Duetoothergovernments 23,376 Ͳ Ͳ Ͳ Ͳ Ͳ 23,376 Unearnedrevenues 9,995,354 Ͳ Ͳ Ͳ Ͳ Ͳ 9,995,354

Totalliabilities 14,740,126 1,181,162 2,083,753 133,625 500,000 153,142 18,791,808

Deferredinflowsofresources:

Unavailablerevenues 113,095 572,752 Ͳ Ͳ Ͳ Ͳ 685,847

Totaldeferredinflowsofresources 113,095 572,752 Ͳ Ͳ Ͳ Ͳ 685,847 Fundbalances:

Nonspendable:

Inventories 23,144 Ͳ Ͳ Ͳ Ͳ Ͳ 23,144

Prepaiditemsandotherassets 673,728 9,466 13,553 Ͳ Ͳ Ͳ 696,747 Restrictedfor:

Unassigned 24,156,021 Ͳ (1,991,961) Ͳ (481,477) Ͳ 21,682,583

Totalfundbalances(deficit) 45,466,389 390,338 (1,978,408) 6,065,586 (481,477) 2,222,929 51,685,357 Totalliabilities,deferred

inflowsofresources,and

fundbalances(deficit) $ 60,319,610 $ 2,144,252 $ 105,345 $ 6,199,211 $ 18,523 $ 2,376,071 $ 71,163,012

* AsofJune30,2021.

MajorFunds

Theaccompanyingnotestofinancialstatementsareanintegralpartofthesestatements.

 17

Amountsreportedforgovernmentalactivitiesinthestatement

ofnetpositionaredifferentasaresultof:

TotalfundbalancesͲgovernmentalfunds $ 51,685,357

Capitalassetsusedingovernmentalactivitiesarenot

financialresourcesand,therefore,arenotreportedin

thegovernmentalfunds:

Governmentalcapitalassets $ 178,435,140

Lessaccumulateddepreciation (78,346,559) 100,088,581

Certainrevenuesareconsidereddeferredinflowsofresources

inthefundfinancialstatementsduetoavailabilityoffunds;

underfullaccrualaccountingtheyareconsideredrevenues. 685,847 LongͲtermliabilitiesarenotdueandpayableinthecurrent

period,andtherefore,arenotreportedinthegovernmental

funds:

Bondspayable $ (18,725,000)

Otherpostemploymentbenefits(OPEB)liability (2,137,378)

Netpensionliability (8,894,988)

Compensatedabsences (4,105,634)

Accruedinterestpayable (56,730)

Deferredchargeonrefunding 255,098 (33,664,632)

Certainfundsrelatedtopensionandotherpostemployment

benefits(OPEB)liabilities;arenotreportedinthegovernmental

funds:

Prepaidpensioncontributions $ 71,437

Deferredoutflowsrelatingtopensions 4,948,696 Deferredinflowsrelatingtopensions (1,988,336) Deferredoutflowsrelatingtootherpostemployment

benefits(OPEB) 1,530,498

Deferredinflowsrelatingtootherpostemployment

benefits(OPEB) (651,157) 3,911,138

Netpositionofgovernmentalactivities $ 122,706,291

CityofAventura,Florida

ReconciliationoftheBalanceSheetofGovernmentalFunds totheStatementofNetPosition

September30,2021

 

Aventura Transportation Aventura

Cityof DonSoffer and CharterHigh

Excellence Aventura Street School Nonmajor Total

General School HighSchool Maintenance Construction Governmental Governmental

Fund Fund* Fund* Fund Fund Funds Funds

Revenues: Intergovernmentalrevenues 4,591,308 8,757,569 4,023,241 2,293,405 750,000 101,482 20,517,005 Chargesforservices 3,229,094 169,618 37,562 50,451 Ͳ Ͳ 3,486,725 Finesandforfeitures 2,029,183 Ͳ Ͳ Ͳ Ͳ 106,169 2,135,352 Investmentincome 48,634 6,435 40 9,134 8,680 2,826 75,749 Miscellaneous 33,454 253,183 33,214 Ͳ Ͳ 19,549 339,400

Totalrevenues 44,228,874 9,186,805 4,094,057 2,352,990 758,680 230,026 60,851,432

Expenditures:

Current:

Generalgovernment 5,658,476 Ͳ Ͳ Ͳ Ͳ 5,788 5,664,264 Publicsafety 24,727,699 Ͳ Ͳ Ͳ Ͳ 100,827 24,828,526 Communityservices 3,360,958 9,599,627 4,336,471 Ͳ Ͳ Ͳ 17,297,056 Publicworks 3,388,995 Ͳ Ͳ 1,841,749 Ͳ Ͳ 5,230,744

Capitaloutlay 959,631 412,193 566,737 547,315 260,130 189,513 2,935,519

Debtservice:

Principal Ͳ Ͳ Ͳ Ͳ Ͳ 1,785,000 1,785,000 Interest Ͳ Ͳ Ͳ Ͳ Ͳ 670,435 670,435

Totalexpenditures 38,095,759 10,011,820 4,903,208 2,389,064 260,130 2,751,563 58,411,544

Excess(deficiency)of

revenuesoverexpenditures 6,133,115 (825,015) (809,151) (36,074) 498,550 (2,521,537) 2,439,888

Otherfinancingsources(uses):

balances 3,832,901 (1,169,015) (659,151) (36,074) 498,550 (27,323) 2,439,888 Fundbalances(deficit),beginning

ofyear,asrestated 41,633,488 1,559,353 (1,319,257) 6,101,660 (980,027) 2,250,252 49,245,469

Fundbalances(deficit),endofyear $ 45,466,389 $ 390,338 $ (1,978,408) $ 6,065,586 $ (481,477) $ 2,222,929 $ 51,685,357

* FortheyearendedJune30,2021.

Theaccompanyingnotestofinancialstatementsareanintegralpartofthesestatements.

 19

Amountsreportedforgovernmentalactivitiesinthestatement

ofactivitiesaredifferentbecause:

NetchangeinfundbalancesͲtotalgovernmentalfunds $ 2,439,888

Governmentalfundsreportcapitaloutlaysasexpenditures;

however,inthestatementofactivities,thecostof

thoseassetsisdepreciatedovertheirestimateduseful

livesandreportedasdepreciationexpense.

Expenditureforcapitalassets $ 2,174,877

Less:netbookvalueofretirementsandtransfers (20,001)

Less:currentyeardepreciation (5,541,689) (3,386,813)

Revenuesthatareearnedbutnotreceivedwithintheavailability

periodarerecognizedinthestatementofactivitieswhen

earnedandsubsequentlyrecognizedinthegovernmental

fundfinancialstatementsastheybecomeavailable.The

differenceisrecordedasareconcilingitem. 480,816

Repaymentofbondprincipalisanexpenditureinthe

governmentalfunds,buttherepaymentreduces

longͲtermliabilitiesinthestatementofnetposition. 1,785,000

Someexpensesreportedinthestatementofactivities

donotrequiretheuseofcurrentfinancialresources

and;therefore,arenotreportedasexpendituresin

governmentalfunds:

Changeinotherpostemploymentbenefits(OPEB)liability $ 232,747

Changeinnetpensionliability 1,073,597

Changeincompensatedabsences (421,899)

Amortizationofdeferredcharges (39,161)

Changeinaccruedinterestpayable 4,421 849,705 Certainchangesrelatedtopensionandotherpostemployment

benefits(OPEB)liabilitiesarenotreportedinthenet

changeinthegovernmentalfunds:

Changeindeferredoutflowsrelatingtopensions $ (82,822)

Changeindeferredinflowsrelatingtopensions (724,105)

Changeinprepaidpensioncontributions (53,406)

Changeindeferredoutflowsrelatingtootherpost

employmentbenefits(OPEB) 100,755

Changeindeferredinflowsrelatingtootherpost

employmentbenefits(OPEB) (540,106) (1,299,684)

Changeinnetpositionofgovernmentalactivities $ 868,912 FortheYearEndedSeptember30,2021

CityofAventura,Florida

ReconciliationoftheStatementofRevenues,Expenditures andChangesinFundBalancesofGovernmentalFunds totheStatementofActivities

Stormwater Utility

Fund Assets:

Currentassets:

Cash,cashequivalentsandinvestments $ 445,283

Duefromothergovernments 227,659

Totalcurrentassets 672,942

Noncurrentassets:

Capitalassetsnotbeingdepreciated 359,794

Capitalassetsbeingdepreciated,net 9,351,205

Totalnoncurrentassets 9,710,999

Totalassets 10,383,941

Liabilities:

Currentliabilities:

Accountspayable 49,081

Totalliabilities 49,081

Netposition:

Netinvestmentincapitalassets 9,710,999

Unrestricted 623,861

Totalnetposition $ 10,334,860

CityofAventura,Florida StatementofNetPosition

ProprietaryFund September30,2021

 

Theaccompanyingnotestofinancialstatementsareanintegralpartofthesestatements.

 21

Stormwater Utility

Fund Operatingrevenues:

Chargesforservices $ 1,376,473

Operatingexpenses:

Costofsalesandservices 628,123

Depreciationexpense 443,201

Totaloperatingexpenses 1,071,324

Operatingincome(loss) 305,149

Nonoperatingrevenues(expenses):

Investmentincome 709

Lossondisposalofpropertyandequipment (83,813)

Totalnonoperatingrevenues(expenses) (83,104)

Changeinnetposition 222,045

Netposition,beginningofyear 10,112,815

Netposition,endofyear $ 10,334,860

CityofAventura,Florida

StatementofRevenues,ExpensesandChangesinNetPosition ProprietaryFund

FortheYearEndedSeptember30,2021

 

Cashflowsfromoperatingactivities:

Cashreceivedfromcustomers,usersandothers $ 1,533,915

Cashpaidtosuppliers (685,180)

Netcashprovidedby(usedin)operatingactivities 848,735

Cashflowsfromcapitalandrelatedfinancingactivities:

Acquisitionandconstructionofcapitalassets (935,948)

Netcashprovidedby(usedin)capitalandrelated

financingactivities (935,948)

Cashflowsfrominvestingactivities:

Investmentincomereceived 709

Netcashprovidedby(usedin)investingactivities 709

Netincrease(decrease)incash,cashequivalentsandinvestments (86,504) Cash,cashequivalentsandinvestments,beginningofyear 531,787

Cash,cashequivalentsandinvestments,endofyear $ 445,283

Reconciliationofoperatingincome(loss)tonetcashprovided

by(usedin)operatingactivities:

Operatingincome(loss) $ 305,149

Adjustmentstoreconcileoperatingincome(loss)to

netcashprovidedby(usedin)operatingactivities:

Depreciationexpense 443,201

Changesinassetsandliabilities:

(Increase)decreaseinduefromothergovernments 157,442

Increase(decrease)inaccountspayable (57,057)

Totaladjustments 543,586

Netcashprovidedby(usedin)operatingactivities $ 848,735

CityofAventura,Florida StatementofCashFlows

FortheYearEndedSeptember30,2021 ProprietaryFund

Theaccompanyingnotestofinancialstatementsareanintegralpartofthesestatements.

 23

Assets:

Investments,atfairvalue:

Equitysecurities $ 44,798,157

Governmentsecurities 5,358,101

Corporatebonds 4,648,278

Hedgefunds 3,423,073

SelfͲdirectedDROPaccounts 2,615,603

Moneymarketfunds 2,531,878

Realestatefund 2,408,568

Alternativemutualfund 1,579,261

Fixedincomemutualfunds 1,400,562

Totalinvestments 68,763,481

Receivables:

Accruedinvestmentincome 70,698

AccountsreceivableͲsaleofinvestments 61,521

Miscellaneousreceivables 9,375

Totalreceivables 141,594

Otherassets 79,029

Totalassets 68,984,104

Liabilities:

Accountspayable 13,374

AccountspayableͲpurchaseofinvestments 88,176

Totalliabilities 101,550

Deferredinflows:

Advancedcontributions 71,437

NetPosition:

Netpositionrestrictedfordefinedbenefits 66,195,514

Netpositionrestrictedfordropbenefits 2,615,603

Totalnetposition $ 68,811,117

CityofAventura,Florida StatementofNetPosition

FiduciaryFundͲPoliceOfficers'RetirementPlan September30,2021

 

Additions:

Contributions:

City $ 1,881,922

Employees 924,555

Buyback 10,811

Floridachapter185 382,744

Totalcontributions 3,200,032

Investmentincome:

Netappreciation(depreciation)infairvalueofinvestments 10,670,125

Interestanddividendincome 1,131,024

Totalinvestmentincome 11,801,149

Less:investmentexpenses 376,643

Netinvestmentincome 11,424,506

Otherincome 856

Totaladditions 14,625,394

Deductions:

Benefitspaiddirectlytoretirees 905,648

DROPdistributions 215,925

Administrativeexpenses 131,204

Totaldeductions 1,252,777

Changeinnetposition 13,372,617

NetPosition,beginningofyear 55,438,500

NetPosition,endofyear $ 68,811,117

CityofAventura,Florida

StatementofChangesinNetPosition

FiduciaryFundͲPoliceOfficer'sRetirementPlan FortheYearEndedSeptember30,2021

 



Nel documento The City of. Aventura, FLORIDA. $QQXDO Comprehensive Financial Report For The Fiscal Year Ended September 30, 202 (pagine 31-43)